Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Investment opportunity in Ruataniwha Water Storage Scheme

Media Release

11 March 2014

Investment opportunity in Ruataniwha Water Storage Scheme

Qualified Hawke’s Bay investors are being given the opportunity to express their interest in investing in the Ruataniwha Water Storage Scheme.

Hawke’s Bay Regional Investment Company Ltd (HBRIC Ltd) has released a Preliminary Information Memorandum (PIM) calling for expressions of interest from qualified locals interested in a potential investment in the water storage scheme.

Interested parties are not being asked for money now. They have until the end of April to indicate their interest in the proposal, and will then be given detailed information on the investment opportunity via an Information Memorandum which will include modeled cashflows and further specific information that is currently commercially sensitive. The Information Memorandum is due for release in May 2014.

The Offer is for a minimum investment of $50,000 and will only be open to eligible investors who:

• have signed a water user agreement for water from the scheme; or

• are landowners within the Ruataniwha Water Storage Scheme irrigation footprint; or

• are Hawke’s Bay resident individuals or businesses,

and who are “eligible persons” for purposes of the Securities Act 1978.

Generally speaking, under the Securities Act, an “eligible person” must be certified as either “wealthy” (i.e., having net assets of at least $2,000,000 or having had an annual gross income of at least $200,000 for each of the last two financial years) or is experienced in the industry or experienced in investing money.

HBRIC Ltd Chairman Andy Pearce says for farmers who intend contracting water from the scheme, this is an opportunity to register an interest in an investment that can provide a natural hedge against water price changes.

“This is also an opportunity for individuals and businesses in Hawke’s Bay to register an interest in securing an investment in a large local project, which is anticipated to drive significant regional growth,” says Dr Pearce.

The Ruataniwha Water Storage Scheme is a proposed project to build and operate a dam, water storage and distribution infrastructure designed to deliver reliable irrigation to an expected 20,000 - 30,000 hectares of farmland in the Ruataniwha Plains in Hawke’s Bay.

The PIM is available on the Ruataniwha Water Storage Scheme page at www.hbrc.govt.nz


ENDS


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Post-Post: Brian Roche To Step Down As NZ Post CEO

Brian Roche will step down as chief executive of New Zealand Post in April 2017, having led the state-owned postal service's drive to adjust to shrinking mail volumes with a combination of cost cuts, asset sales, modernisation and expansion of new businesses. More>>

ALSO:

Company Results: Air NZ Rides The Tourism Boom With Record Full-Year Earnings

Air New Zealand has ridden the tourism boom and staved off increased competition to deliver the best full-year earnings in its 76-year history. More>>

ALSO:

New PGP: Sheep Milk Industry Gets $12.6M Crown Funding

The Sheep - Horizon Three programme aims to develop "a market driven, end-to-end value chain generating annual revenues of between $200 million and $700 million by 2030," according to a joint statement. More>>

ALSO:

Half Full: Fonterra Raises Forecast Milk Price

Fonterra Co-operative Group Limited today increased its 2016/17 forecast Farmgate Milk Price by 50 cents to $4.75 per kgMS. When combined with the forecast earnings per share range for the 2017 financial year of 50 to 60 cents, the total payout available to farmers in the current season is forecast to be $5.25 to $5.35 before retentions. More>>

ALSO:

Keep Digging: Seabed Ironsands Miner TransTasman Tries Again

The first company to attempt to gain a resource consent to mine ironsands from the ocean floor in New Zealand's Exclusive Economic Zone has lodged a new application containing fresh scientific and other evidence it hopes will persuade regulators after their initial application was turned down in 2014. More>>

Wool Pulled: Duvets Sold As ‘Premium Alpaca’ Mostly Sheep’s Wool

Rotorua business Budge Collection Limited (Budge) and sole director, Sun Dong Kim, were convicted and fined a total of $71,250 in Auckland District Court after each pleading guilty to four charges of misrepresenting how much alpaca fibre was in their duvets. More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news